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History of Economic Thought (Universal Basic Income, EMU, and industries)

June 7, 2017 / Taluer Canli

To first discuss universal basic income, one needs to define four different terms, namely Economics, Capitalism, Socialism, and Philanthropy. Economics is the science that deals with the production, distribution, and consumption of goods and services, or the material welfare of humankind. It deals with the allocation of scarce resources in an efficient manner. Capitalism can […]